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.. ,. �r � � �. 20iooss92
<br />CONDEMNAI'ION. Grantor shall give Lender noCice of any action taken or threatened lo be taken by private or
<br />public entities to appropriate the Property or any part thereof, throu�h condetnnati�n, eminent domain or auy other
<br />action. �urther, Lender stiall be permitted to participate or intervene in any of the above described prc�ceedia��s in
<br />any manner it shall at its sole discretion detennine. Lender is hereby given full power, rigl�t and authority to
<br />receive arid receipt for any and all daxnages awarded as a result of t}�e full or partial taking or appropriation and in
<br />its sole discretion, to apply said awards to the indebtedness, whether or not then due or otl�erwise in accordance
<br />with applicable law. Unless Lender otherwise agrees in writin�, any application of proceeds to lhe Indebteciness
<br />shall not extend or postpone the due date of the payments due under the Indebtedness or chan�;e the amount of
<br />such payments.
<br />GRAN'I'OR'S ASSU[ZANCES. At any time, upon a requesC of Lender, Grantor will execute and deliver to
<br />Lender, and if appropriate, cause to be recorded, such further znortgages, assign�xients, assignments of leases and
<br />rents, security agreements, pledges, tinancing statements, or such other document as Lender may require, in
<br />I,ender's sole discreticm, to effectuate, complete and Co perfect as well as to continue to preserve the Indebtedness,
<br />ar the lien or security interest created by this Security I.nstrument.
<br />,__ ATTORNEY C�rRntor appoints Lendet as attorney on behalf of Grantor. .If Grantor fails to
<br />ful�ll any of Gra�ator's obligations under this Security Instrument or any Related Documents, including those
<br />obligations me�ationed in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligatior►s without'
<br />notice to Grantor. 7:'his power of attorney shall not be affected by the disability of the Grantor.
<br />EVENTS OF DEFAULT. The following events shall constitute default under lhis Security Instrume»t (each an
<br />"Evettt of Default"):
<br />(a) Failure to make required payments when due under Indebtedness;
<br />(b) Failure to perform or keep any of the covenants of this Security Instrument or a default under any of
<br />the Related Uocuments;
<br />(c) 'The m�king of any oral or written statement or assertic�n to Lender that is false or �nisleading in any
<br />material res�ect by Grantc�r or any person obligated on the lndebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy c�r receivership proceeding of Grantor or of any person
<br />or entity obligateci on the lndebtedness;
<br />(e) Any assigmnent by Grantc>r for the benefit of Grantor's creditors;
<br />(fl A materia] adverse change occurs in the financial condition, ownership or management of Graa�tor or
<br />any person obligated on tl�e Indebtedness; or
<br />(g) Lender deems itselP insecure for any reason whats��ever,
<br />REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without dematid or
<br />notice, pay any or all taxes, assessments, premiums, and liens required to be paid by Grantor, effect any insurance
<br />provided for herein, make such repairs, cause the abstracts of title or title insurance policy and tax I�istories of the
<br />Property to be certi�ed to date, or procure new ab�tracts of title or title insurance and tax histories in case noxae
<br />were furnished ta it, and procure title reparts cavering the Property, including surveys. The amounts paid for any
<br />such purposes will be added to the Indebtedness and will bear interest at the rate of interest. otherwise accruing on
<br />the lndebtedness until .paid. ln the event of foreclosure, the abstracts of title or title insurance sk�all become tlie
<br />property qf Lender. All abstracts af title, title insurance, tax histories, surveys, and other documents pertaining to
<br />the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<br />1N TFiE EVEN1' UF THB SALE OF TH1S PRUP�12'1'Y UND�R'I'HE 1'ROCFDURF., FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY t1DVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCISES ITS RIGF�TS UNDER THE ASSIGNMENT UF L�ASES ANU R�N'I'S, '1'HH
<br />LENDER SHALL PROVIDE ALL STA1'U'I'ORILY REQU1REll NO"I'.ICFS OF SAL� AND NOTTCES OF
<br />JUDI.CIAL HEARINUS BEFOR� LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br />INSTRUMENT. �
<br />Upoii the occurrence of an Event of Default, I,ender may, witliout notice unless required by law, and at its option,
<br />declare tlie entire Indebtadness du� and payable, as it may elecC, regardless of the date or dates of maturity fliereof
<br />and; if permilted by state law, is authorized and en�powered to cause the Yroperty to be sold at public auction, and
<br />to execute and deliver Co the purctaaser or purchasers at Such sale any deeds of conveyance good and sufficiexat at
<br />law, pursuant to lhe statute i�� sucl� case made and provided. 'I'he '1'rustea shall apply the proceeds of the Tnistee's
<br />sale, first, to the costs and expenses of exercising the power of sale and of the sal�, including the payment of the
<br />Trustee's £ees actually incurred; second, to payn�ent of the obligatian secured by the trust deed; third, to tl�e
<br />payxnent of junior trust deeds, mortgages, or other lienholders and the balance, if any, to the person or persons
<br />legally entitled thereto. 'I'he recitals in the Trustee's deed shall be prima facie evidence of the truth af che
<br />statements made in it. If Lender chooses to invoke t}�e power of sale, Lender or TrusCee will provide notice of sale
<br />pursuant to applicable law. Any such sale c>r a sale made pursuant to a judgment or a decrEe for the foreclosure
<br />hereof may, at ihe option of Lei�der, be made en masse. The commencement of �roceedings to foreclose this
<br />Security Instrurnent in any manner autharized by law shall be deetned as exercise of the above option.
<br />Upon tl�e occurrence of an Event of llefault, Lender shall immediately be entitled to make application for and
<br />obtain the appointment of a receiver fqr rhe Property and of the earnings, income, issue and profits of i,t, with the
<br />powers as the court making the appointmezats confers. Crantor hereby irrevocably consents to such appointznent
<br />and waives notice of any application therefor.
<br />NO WAIVER. No delay or failure of Lender to exercise any ri�ht, remedy, power or privilege hereunder shall
<br />affect that right, remedy, power or privilege nc�r shall any single or partial exercise thereof preclude the exercise of
<br />ci? 2004-2010 CnmpliFlnce Sysiems, Inc I�47-IFUS - 2010.05365 .
<br />Commcrcixl Rexl Esln�e tiecurity Insirwnent - DL�Ofl7 Pagc 3 of 5 � . ww�v.compliancesystems.com
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